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Posted on Sep 23, 2024

A company made no adjusting entry for accrued and unpaid employee wages of $ 2 8 , 0 0 0 on December 3 1 .

A company made no adjusting entry for accrued and unpaid employee wages of $

28, 000

on December

31 .

This oversight would:

Multiple Choice

Understate net income by $

28, 000 .

Overstate net income by $

28, 000 .

Have no effect on net income.

Overstate assets by $

28, 000 .

Understate assets by $

28, 000 .

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